BRIEF-Probi says no longer expects to hit organic growth goal in 2017

Reuters Staff

1 Min Read

STOCKHOLM, Sept 4 (Reuters) - Probi:

* Says goal to organically grow faster than the global market is unlikely to be met in 2017

* Says has been informed that one of its largest customers in the North American market is continuing its previously introduced destocking program, now as a result of over purchases and safety stock reduction

* Says it is expected that the destocking will continue during the second half of 2017 and the first quarter of 2018

* Says it is expected that this will affect net sales negatively with approximately MSEK 50 per quarter over said period compared with corresponding periods 2016 and 2017